Just be careful not to rush into a bad property because you have to meet the deadline.  

We obtained tap fee estimates for $45k for water and $45k for sewer)Inspection Period Deadline: Oct 8Closing Deadline: Oct 15Assignment Fee: $50,000Earnest Deposit: $11,000MSA: Fayetteville MSA (376k population; $111k median home price; 13% vacant housing; $1,100 3-bed apartment rents)Located less than 10 miles from two Walmart Supercenters, a Walmart Distribution Center, and is near McDonald’s (0.1 miles), Food Lion Grocery Store (0.1 miles), Gray’s Creek High School (4.9 miles), and Cape Fear Valley Medical Center (11.0 miles).

I extended it to end of Aug but of course when the deadline came, they stopped communicating and has since moved from their interim address onto their next rental, which happens to be on the Airforce Base close to us. 

Whenever you receive that little white card of death from the assessors office it is time to file your appeal, Appeals have a filing deadline.

If you can’t, be sure to know what your deadlines are and walk (if you need to) before your EMD goes at risk.  

If she choose to reinvest the money in RE, she would not have the time deadlines imposed by a 1031 exchange.Good luck.

In Shelby County, also make sure the tax sale property is assessed in the investor's name, and also call and get registered on the property file if you've made improvements.AND...don't forget those ten day deadlines!!!

My deadline is October 10.

@Michael S. whatever you choose to do I sure hope you consult with an attorney and have your contractor sign a clearly stated operating agreement outlining the work expected, deadlines for said work and payment schedule based on checks and balances from you also outlying your obligations as well. 

You have to be somewhat 'seasoned' to do this as you are on a deadline to decide and if you miss something and go firm, you open yourself up to a world of problems.I personally don't do this but there those that do.Good luck,Oren